The invention provides waterproof paint for an outer wall. The waterproof paint comprises, by weight, 0.2-0.3 part of thixotropic agent, 0.05-0.1 part of medium pigment, 0.5-1.0 part of medium yellow, 0.01-0.05 part of phthalocyanine blue, 35-45 parts of emulsion, 8-10 parts of quartz powder, 4-6 parts of barium sulfate, 5-6 parts of talcum powder, 1-3 parts of dispersing agent, 2-3 parts of wetting agent, 8-12 parts of alcohol ester, 1-2 parts of coalescing agent, 1-3 parts of thickener, 2-4 parts of modifier, 20-23 parts of deionized water, 80-90 parts of acrylic resin, 1-3 parts of ethylene glycol, 40-50 parts of phthalic anhydride, 3-5 parts of rosin phenolic resin, 20-30 parts of vegetable oil, 5-10 parts of high chlorinated polyethylene resin and 2-4 parts of diluent. The waterproof paint has the advantages that the high molecular materials in the emulsion of the waterproof paint is good in permeability and binding property and high in tensile property, and the problems of cracking and damaging can be solved effectively.